Answer:
if no politics why u put category as business xD
Explanation:
Answer:
Cutoff.
Explanation:
At the end of an accounting period, it is important to ensure proper inventory cutoff to determine the ownership of goods in transit.
In Financial accounting, the term cutoff refers to the process which ensures that business transactions and activities are recorded in the correct accounting period.
An inventory cutoff involves stopping or pausing shipments or receiving of supplies of goods, in order to enable proper accounting and count checks.
Piecemeal describes something that's made or done in a series of steps. As an adverb, piecemeal means either “step by step” or “in pieces.” And Time rates are used when employees are paid for the amount of time they spend at work. The usual form of time rate is the weekly wage or monthly salary.
Answer:
a) the liability recorded when cash was received is decreased by the adjustment for the revenue being earned
Explanation:
When cash is received for revenue yet to be earned, it is called deferred revenue. The entries posted at this point is a Debit to Cash (an increase in cash balance) and a Credit to Deferred revenue (a liability account). When the revenue gets earned, it get recognized with a Debit to Deferred revenue (to reduce the liability as the obligation has been fulfilled resulting in revenue being earned) and a Credit to Revenue (P/L).
Hence, the right option is a) the liability recorded when cash was received is decreased by the adjustment for the revenue being earned.
Answer:
Explanation:
check the file attached for full explanation